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The Operative clause in an insurance policy sets outs the circumstances that must be present before an insurance company will pay out any claims to insured parties. This clause is therefore very important as it forms the essence of the policy contract and details the scope of the cover.
The Operative clause will stipulate the insurer's obligations; one can refer to it as the insurance company's promise to the insured. It will include words to the effect of "subject to the terms, conditions, limitations and exclusions set out in the policy, and upon prior receipt of the premium, the insurer undertakes to indemnify the insured against any loss or damage in case of the occurrence of an Insured Event." The insured event in the case of car insurance could be the car being stolen or damage suffered after an accident.
It will also set out the insured parties obligations in terms of the contact, including the payment of the premiums on the specified times. In insurance the onus is on the insured to provide proof that a loss did take place, following the general rule of the law of evidence and procedure. This rule is applied throughout the policy, including in the operative clause.
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What is operative clause?
The Operative clause in an insurance policy sets outs the circumstances that must be present before an insurance company will pay out any claims to insured parties. This clause is therefore very important as it forms the essence of the policy contract and details the scope of the cover. The Operative clause will stipulate the insurer's obligations; one can refer to it as the insurance company's promise to the insured. It will include words to the effect of "subject to the terms, conditions, limitations and exclusions set out in the policy, and upon prior receipt of the premium, the insurer undertakes to indemnify the insured against any loss or damage in case of the occurrence of an Insured Event." The insured event in the case of car insurance could be the car being stolen or damage suffered after an accident. It will also set out the insured parties obligations in terms of the contact, including the payment of the premiums on the specified times. In insurance the onus is on the insured to provide proof that a loss did take place, following the general rule of the law of evidence and procedure. This rule is applied throughout the policy, including in the operative clause.
What does intra-operative phase mean in medical terms?
The intra-operative phase is the part that happens during the surgery, rather than pre-operative (before) or post-operative (after).
Who owns co-operative?
The members of the co-operative own it.
When was Operative Media created?
Operative Media was created in 2000.
What has the author J D Hamilton Jamieson written?
J. D. Hamilton Jamieson has written: 'Aids to operative dentistry' -- subject(s): Dentistry, Operative, Operative Dentistry 'Operative dentistry'
What was an operative in the civil war?
The term operative usually refers to a spy
What is the definition of the word operative?
The word operative is defined as functioning or having effect. An operative can also be be a skilled worker, specifically in the manufacturing industry.
What has the author Joseph D Bryant written?
Joseph D. Bryant has written: 'Manual of operative surgery' -- subject(s): Accessible book, Operative Surgical Procedures, Surgical Procedures, Operative, Operative Surgery
Is cooperative society and cooperative bank are same?
Co-operative Society and Co-operative Bank are different in nature. Co-operative Bank example District Co-operative Bank, Primary Agricultural Co-operative Bank, Urban Co-operative Bank with which we can able to financial transaction such as SB Account, Current Account & Terem Deposit Co-opeartive Society is specific in nature such as Co-operative Housing Society etc.
When was Operative Bricklayers' Society created?
Operative Bricklayers' Society was created in 1818.
When was Lincolnshire Co-operative created?
Lincolnshire Co-operative was created in 1861.
What is the population of Lincolnshire Co-operative?
Lincolnshire Co-operative's population is 2,700.
